Finance Minister has expressed interest to exempt khadi from GST: Kalraj Mishra

New Delhi, July 15 (KNN) Aiming at encouraging the khadi sector, the Union Minister for Micro, Small and Medium Enterprises (MSME) Kalraj Mishra mooted that the Khadi products might be exempted from the Goods and Services Tax (GST) that was rolled out from July 1.

The Minister made these remarks during a meeting of Khadi Institutions.

Mishra said that in order to encourage the tradition of manufacturing khadi among weavers and spinners, the GST panel is considering revising the tax rate levied on the various products from Khadi industry.

He further informed that key officials including the finance minister has expressed interest for the same to develop the economically backward section of weavers and spinners involved in the industry.

Minister of State for Micro, Small and Medium Enterprise  (MoS MSME) Giriraj Singh who was also present at the event expressed concerns over the decline in number of artisans. Citing statistics he informed that in the last fifty years the number fell drastically from 11 lakh to 2 lakh.

Also during the meeting Vinai Kumar Saxena, Chairman of Khadi and Village Industries Commission (KVIC) informed that a plan is being outlined to revive and make use of the non-profitable and dormant assets of the khadi institutions. (KNN/ DA)